Let’s make a deal

Industry spokesperson says construction fund largely going unused

Players in one of the city’s most active multi-family construction areas have made limited use of a cash-for-density fund established by the City of Calgary, says a spokesperson for the industry.

While a number of projects have been brought forward related to the Beltline Community Investment Fund (BCIF), the CHBA-UDI Calgary Region Association, the umbrella organization for the builders and developers in and around Calgary, is scratching its head about why the fund hasn’t been used more.

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M.D. of Foothills not immune to market conditions: Mayor

CREB®Now sits down with M.D. of Foothills Mayor Larry Spilak

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Situated south of Calgary, the Municipal District of Foothills is changing. Communities such as Okotoks, High River, Black Diamond and Turner Valley are growing, while areas in-between are seeing its demographics evolve.

CREB®Now recently sat down with M.D. Mayor Larry Spilak to get his two cents on everything from the local housing market to his favourite thing to do on a day off.

CREB®Now: First off, you’re title recently switched from reeve to mayor? Why?

Spilak: Many rural municipalities are making this change. The term “reeve” is not as familiar to many residents, while the term “mayor” is universal and does not require any explanation. Whether called a reeve or a mayor, the responsibilities and duties for the position are the same.

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Local facelift

Several major projects in Calgary expected to capture headlines in 2016

Calgary is expected to look a lot different by the end of this year thanks to the opening of several highly anticipated developments that promise to reshape the local landscape, say officials.

“It was a good year in 2015, and the projects continue to come in for 2016,” said Kevin Griffiths, director of inspections and permit service at the City of Calgary.

The National Music Centre, a new international terminal at the Calgary International Airport and the new central library are just a handful of the projects that could see their doors open in 2016.

While acknowledging downtown office construction projects have slowed, Griffiths said the pace for other commercial projects have increased. He singled out the Residence Inn by Marriott and SilverBirch Conference Centre, planned for the former site of the Alberta Boot Company on 10th Avenue S.W.

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The LRT bump

As city plans next phase, new study reveals light-rail transit has positive effect on property prices

Light-rail transit could boost the value of your home. At least that’s the general finding of a new study from the University of Calgary.

According to new research obtained exclusively by CREB®Now and completed by Economics master’s degree student Laura Dick, LRT line development has had a modestly positive effect on the price of housing located close to stations along new lines in Calgary.

“Properties within zero to 500 metres of a station saw, on average, an increase in sales price of about 1.5 per cent compared to properties that are 2,000 metres or more away from a station,” said Dick, whose recently completed work is still to be published in an academic journal.

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